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Finance Multiple

In: Business and Management

Submitted By nongprae
Words 11062
Pages 45
Chapter 04
Mutual Funds and Other Investment Companies

Multiple Choice Questions

1. Which one of the following statements regarding open-end mutual funds is false?
A. The funds redeem shares at net asset value.
B. The funds offer investors professional management.
C. The funds offer investors a guaranteed rate of return.
D. The funds offer investors professional management and a guaranteed rate of return.
E. The funds redeem shares at net asset value and offer investors professional management.

2. Which one of the following statements regarding closed-end mutual funds is false?
A. The funds sometimes trade at a discount from NAV.
B. The funds are sold at the prevailing market price.
C. The funds offer investors professional management.
D. The funds redeem shares at their NAV.
E. The funds sometimes trade at a premium to NAV.

3. Which of the following functions do investment companies perform for their investors?
A. Record keeping and administration
B. Diversification and divisibility
C. Professional management
D. Lower transaction costs
E. Record keeping and administration, diversification and divisibility, professional management, and lower transaction costs

4. Multiple Mutual Funds had year-end assets of $457,000,000 and liabilities of $17,000,000. There were 24,300,000 shares in the fund at year-end. What was Multiple Mutual's Net Asset Value?
A. $18.11
B. $18.81
C. $69.96
D. $7.00
E. $181.07

5. Growth Fund had year-end assets of $862,000,000 and liabilities of $12,000,000. There were 32,675,254 shares in the fund at year-end. What was Growth Fund's Net Asset Value?
A. $28.17
B. $25.24
C. $19.62
D. $26.01
E. $21.56

6. Diversified Portfolios had year-end assets of $279,000,000 and liabilities of $43,000,000. If Diversified's NAV was $42.13, how many shares must have been held in the…...

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